quote:

Originally posted by Axtremus:

quote:

Originally posted by Steve Miller:
Did the listing agent under price it or did the buyer over pay?

From the article: ‘Storey said the selling strategy was to price the home “fairly” in order to draw a large pool of offers, knowing it would get more than the asking price.‘

Back in the days of bidding wars, that was a real atrategy. My broker did that when we sold our condo in San Francisco.

It may be a marketing strategy, but most listing contracts are written such that if a qualified offer comes in at or above the listing price, commission is owed whether the offer is accepted or not.

It’s a nice way to guarantee income.

quote:

Originally posted by Steve Miller:
It may be a marketing strategy, but most listing contracts are written such that if a qualified offer comes in at or above the listing price, commission is owed whether the offer is accepted or not.

It’s a nice way to guarantee income.

I'm not sure I understand the problem, unless you're saying that the seller's real "floor" ... the price under which they wouldn't sell ... is above the listing price. Obviously, that's something to keep in mind, but we were going to sell, because we were leaving, and didn't want to keep ownership. So, we trusted our broker to pick the right strategy to get the best price.

There's no way to tell whether he was right or wrong, because you can't go back in time and try it the other way, but we were happy with the outcome.

Of course, it was a unique property, so who knows what might have happened. It's worth a lot more now.

Relocating to Maui?

Don't get eaten by sharks.